Canal-Facing Corner Plot on Dubai Island with 124,000 sq ft GFA

Property Overview

This is a three-side corner plot on Dubai Island (formerly Deira Islands) offered at AED 23,000,000. The plot measures 39,650 sq ft with a stated permitted GFA of 124,000 sq ft and faces a canal. The asking rate is AED 580 per sq ft of plot area, which the agent reports is reduced from a previous AED 700 per sq ft, and the seller is presenting it as a distress sale.

Property Highlights

• Asking price: AED 23,000,000
• Plot size: 39,650 sq ft
• Stated GFA: 124,000 sq ft
• Rate on plot area: approximately AED 580 per sq ft
• Rate on stated GFA: approximately AED 185 per sq ft
• Position: three-side corner, canal facing (agent-stated)
• Agent-stated previous rate: AED 700 per sq ft
• Master developer: Nakheel

Why the Price Is Presented as Below Market

The agent brief states that the plot was previously priced at AED 700 per sq ft and is now offered at AED 580 per sq ft. At 39,650 sq ft, the earlier rate implies roughly AED 27,755,000, so the current price is about AED 4,755,000 (around 17.1%) lower than that previous figure.

This comparison is against the plot's own earlier pricing as reported by the agent. It is not an original purchase price, a dated DLD transaction or an independent valuation, and no comparable Dubai Island plot sales were supplied. Buyers should obtain recent DLD transaction data and an independent valuation before relying on the discount.

Plot and GFA Arithmetic

AED 23,000,000 divided by 39,650 sq ft gives about AED 580 per sq ft of land. Divided by the stated 124,000 sq ft GFA, the land cost works out to about AED 185 per buildable sq ft. The stated GFA is roughly 3.13 times the plot area. Developers usually compare land deals on the GFA rate, so this figure is worth checking against the affection plan.

About Dubai Island and Nakheel

Dubai Islands, previously known as Deira Islands, is a master development by Nakheel on Dubai's northern coastline. According to the Dubai Media Office, Nakheel's 2022 master plan covers five islands with a combined area of about 17 square kilometres, aligned with the Dubai 2040 Urban Master Plan.

The master plan announcement describes marinas, promenades, beaches, parks, hotels and resorts, with road bridges and water transport links. Individual plots within the islands are typically built out by third-party developers under Nakheel's master plan controls.

Plot Position

The agent describes the plot as a three-side corner with canal frontage. Corner plots with multiple road frontages can offer more flexibility for access and building design, but setbacks, access points and frontage rules depend on the plot's affection plan and Nakheel's development control regulations.

Location and Connectivity

Dubai Islands sits off the Deira coast and is connected to the mainland by road bridges, with water transport included in the master plan. The official announcement places the islands a short distance from Dubai International Airport, Dubai Creek, Jumeirah and Downtown Dubai. Exact travel times were not supplied and depend on the plot's island and access route.

Verification Notes

• Agent-supplied: price, plot size, GFA, corner and canal-facing position, distress status and previous AED 700 per sq ft rate.
• Calculated by DPF: rate per plot sq ft, rate per GFA sq ft and the reduction from the previous rate.
• External research: Dubai Islands master plan facts from the Dubai Media Office announcement.
• Not supplied: plot number, specific island, permitted land use, height limit, title or ownership type, and any service or infrastructure charges. Confirm these through the affection plan, title deed and Nakheel before committing.